If the notion of CX has been gaining more ground in a variety of businesses, the idea of quantifying the customer experience by concretely and objectively measuring it is still at its beginnings.
Over the next few articles, we’ll work to demystify what CX Index is, how to measure it, it’s managerial and strategic impacts. We will finish the series with a mathematical example and a case study.
What is a CX Index?
Starting from the idea that «what gets measured, improves» a CX Index is a measure that defines how customers perceive interactions with your organization.
From this perspective, customers define their experience with your brand in the following ways:
- The experience has brought them value; this notion of value is compared to that of competitors, be they direct or indirect
- Was it easy, or not, for them to do business with your organisation (ease to find you, contact you, interact with you, pay you, etc.)
- Was it pleasant and enjoyable to deal with you; referring to the quality of positive emotions that the brand was able to evoke, at every point of the customer journey
An interaction is defined as each touch point with the brand: when your customer is exposed to an ad, a sign, a website, a contact with customer service, visiting a point of sale, speaking to an employee, receiving or answering an email, buying a product or service, using your product or service, opening a package, etc.
At every one of these touchpoints, customers establish the basis for their judgements, opinions, and attitudes towards your brand and your organization. Whether or not your brand answers their needs, the simplicity to do business with your, and the pleasure they derive from the interaction.
In other words, the customer experience (CX) is the act of purchasing a product or service perceived as useful by the client, coming from an organisation with which it’s easy and pleasurable to do business at every step of the way. A great customer experience surpasses customer expectations, elevates your standards of service and quality, and sets the bar higher than the competition.
How do we measure CX?
Each business is unique. There’s not one ideal indicator that applies to all business, across all industries. A CX Index should be tailored and unique to each organization, according to its particularities, its markets, and its clientele. However, regardless of the criteria chosen, make sure that:
- The elements that you measure are the most relevant in the eyes of your customers
- You can act directly and easily on these elements. In this manner each criteria can be taken into account when making decisions in regards to improving the customer experience
If you can, in addition to these indicators, develop a qualitative measuring tool (such as an audit or active observations) that will allow you to constantly measure, improve, and perfect the CX for your organization. The company will then be comparing itself to its own quality standards and, over time, can be constantly optimising these quality standards.
In Part 4 of this series on the customer experience, we will address how to operationalize your CX Index.
Your marketing facilitator,